Syndax Pharmaceuticals, Inc. $SNDX Shares Sold by Catalio Capital Management LP

Catalio Capital Management LP lowered its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 25.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,196,807 shares of the company’s stock after selling 417,910 shares during the period. Syndax Pharmaceuticals makes up 4.7% of Catalio Capital Management LP’s portfolio, making the stock its 7th biggest position. Catalio Capital Management LP owned about 1.38% of Syndax Pharmaceuticals worth $25,145,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Syndax Pharmaceuticals by 21.2% in the fourth quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock worth $130,899,000 after acquiring an additional 1,091,717 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Syndax Pharmaceuticals by 3.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,695,375 shares of the company’s stock worth $119,660,000 after acquiring an additional 208,941 shares in the last quarter. State Street Corp increased its position in shares of Syndax Pharmaceuticals by 19.3% in the fourth quarter. State Street Corp now owns 4,596,552 shares of the company’s stock worth $96,574,000 after acquiring an additional 743,003 shares in the last quarter. Bank of America Corp DE increased its position in shares of Syndax Pharmaceuticals by 33.7% in the second quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock worth $35,951,000 after acquiring an additional 967,873 shares in the last quarter. Finally, Kingdon Capital Management L.L.C. increased its position in shares of Syndax Pharmaceuticals by 19.0% in the third quarter. Kingdon Capital Management L.L.C. now owns 2,500,000 shares of the company’s stock worth $38,462,000 after acquiring an additional 400,000 shares in the last quarter.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX stock opened at $19.04 on Thursday. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.06 and a current ratio of 5.47. Syndax Pharmaceuticals, Inc. has a one year low of $8.59 and a one year high of $25.59. The company’s 50-day simple moving average is $20.68 and its 200-day simple moving average is $21.21. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -6.82 and a beta of 0.38.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.11. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The business had revenue of $64.86 million for the quarter, compared to analysts’ expectations of $69.76 million. During the same quarter last year, the company posted ($0.98) earnings per share. The company’s quarterly revenue was up 224.3% compared to the same quarter last year. Equities analysts anticipate that Syndax Pharmaceuticals, Inc. will post -1.66 earnings per share for the current fiscal year.

Insider Transactions at Syndax Pharmaceuticals

In other news, CMO Nicholas A.J. Botwood sold 34,280 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $18.00, for a total value of $617,040.00. Following the transaction, the chief marketing officer directly owned 60,885 shares in the company, valued at approximately $1,095,930. This trade represents a 36.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael A. Metzger sold 6,847 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $18.99, for a total transaction of $130,024.53. Following the completion of the transaction, the chief executive officer owned 484,843 shares in the company, valued at approximately $9,207,168.57. The trade was a 1.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 73,539 shares of company stock worth $1,336,019. Insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SNDX shares. Barclays upped their target price on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. UBS Group restated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Friday, June 12th. Citigroup upped their target price on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. The Goldman Sachs Group upped their target price on shares of Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $42.55.

Syndax Pharmaceuticals Profile

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.